New York (CNNMoney.com) - While the unemployment rate held steady in February, the U.S. economy is still shedding jobs, according to a government report released Friday.
The Labor Department said the economy lost 36,000 jobs in the month, fewer than the 68,000 jobs economists were expecting, according to a survey conducted by Briefing.com.
The results were still worse than the previous month, as just 26,000 jobs were lost in January, according to a revised estimate.
But there was no significant change in the number of unemployed workers, and the unemployment rate held steady at 9.7%. Economists surveyed by Briefing.com were expecting an increase to 9.8%.
The USPS is going to lay off 30,000. The jobs bill that just passed Congress needs to be bigger.
Finally – CNN admits a survey didn't work. DUH
I doubt that they counted the millions who are turned away from unemployment claims for one reason or another, despite the fact that they are unemployed. Majority of these people are those who have been unemployed for more than 1 year. If you have been unemployed for a long time, no statistics in this country is taking stock of you and you are not eligible for retraining because you don't receive unemployment.
And you don't receive unemployment because either your account contribution have been depleted or because you didn't work long enough in the previous job to earn unemployment, you had always been a temp, or you didn't qualify for any other reason despite the fact that you are not working.
Millions are in this category because the banks and therefore the services that depend on them for example, started outsourcing and laying off massively since 2004.
No suprise there. That's what happens when the Dems focus on Health care and not JOBS.
I suppose Obama will hail this as some kind of evidence that things are getting better.
Further evidence that our grandchildrens' $787 billion has been poured down a rat hole.
1. We are headed in the right direction, each month we lose fewer jobs.
2. When President Obama took office in January 2009, on January 26th, 2009, called "Bloody Monday" in one day, we lost...... over 654,000 jobs!
3. There are hopeful signs, for one, our 401k's are on the upswing.
4. In our city, there are "Hiring" signs every where.
5. Lastly, a month ago the unemployment rate was 10% it is now 9.7%!
Hope trumps fear every time!
A year after the emergency stimulus bill was rushed into law before a single member of Congress read it – and the nation is still losing jobs. Oh well, what's another trillion dollars for our kids to pay. I'm sure it's Bush's fault in the eyes of most of CNN's 500 viewers, I can't wait to see the comments.
Hows that 787 billon dollar stimulas bill working out for for you Dems?
Yup, Odumbo is a really smart guy, wont go above 8% he said.
He loves to tell us what we want to hear and then it when it doesnt work......................Blame Bush, Its the democrap way
2010/2012 REAL Change is coming
If you promise to take 50 cents an hour and work 60 hour weeks for your labor, the multinational fascist corporations promise to bring back some of these jobs.
Do you know with huge debt, high taxes and big govt, that "normal" unemployment will be around 8%...not 5%! Just wait and see what Obama's disasterous policies will bring long term.
While millions of Americans are out of work and your re-distribution of their wealth continues, the Washington elitists continue to play politics on providing some meaningful form of legislation with regard to reforming healthcare INSURANCE. This continues while ignoring the true National crisis of creating commerce within our Nation to make JOBS, as usual politicians aren't considering the number of people that will now due to the loss of jobs are going to end up on the government subsidy or is that the plan? I have always believed that the larger picture presented is destroy the economy, destroy peoples will, indenture them on the government nipple, the same ploy known as welfare done to the black man is now being exercised on the entire population. Obama has proven himself to be just another politician with grand desires of writing himself into history and of maintaining power and control over the populous, all while millions suffer daily. Where are the jobs Mr. President?
President Obama's system continues to work, just as Napolitano's worked in Detroit.
This MUST be a right wing statement,I know my Mezziah(Obamadoddle)said HE would keep it under 8% with the 862BILLION & cash for clunkers,not to mention 15BILLION on Reid's Nevada.Surely this is right wing extremism.How is that HOPEY CHANGEY THING WORKING FUR YA?
Oh wow they were expecting one digit more. 9.7% is horrendous to begin with.
So does that number include people who have stopped working or people who are on welfare, because last I heard they don't include those people in the calculations. In short the UE rate is much higher.
Hey the O GREAT ONE said " change we could believe in" and you followers are getting plenty of change,going from BAD to TERRIBLE.I just believe you liberals have bought a lame horse to run the track.
The rate is going to go down from here and then the republicans will say it because mitt romney and sarah palin are american heros!! LOL A hypocrit satanist who believes in witchcraft and a mormon. What happened to the GOP of christ! ..Good luck with your come back GOP its not happening.
What happened to the 8% and the 862 Billion??Bush had 5.7%.Guest Obamadoo is just not up to the job!
According to the words of economists............
In order for the unemployment rate to get back down to 7%..........400,000 jobs per month---over the next 5 years will need to be created.
Based on this........What do you think the unemployment rate will be when the November elections get here???
Where's the reporting that the underemployed and the no longer looking numbers rose again which artificially reduces the unemployment rate by reducing the labor force counted.
"While the unemployment rate held steady in February, the U.S. economy is still shedding jobs, according to a government report released Friday".
I don'tt know how the government got the fussed math numbers. If the US economy is still shedding jobs (36000 a month but not 36), which is worse than last month, and the already unemployed are still looking for a job, how come the unemploment rate held steady? Something is definitely wrong here to manipulate the numbers. The only reason would be the government removes more unemployed people from the government's unemployed statistics to make it look better.
Things can still certainly improve, but at least the unemployment rate didn't spike.
These figures are exactly why we need to extend unemployment benefits and the COBRA subsidy – to help these Americans while they're out there looking for a new job as the economy gradually improves.
The Anti American Radical Liberal Al Queda of America Party really is doomed come November. Its going to be a bloodbath. LOL, I cannot wait.
As far as Mr. One and Done Moron and Chief; He wuill be lucky not to be impeached or physically removed freom office due to the coming revolution. Ill be surprised if Obozo makes it to 2012
Why don't we lay off members of congress REPUBS and DEMS and let them see how hard it is to find a job when all the jobs have been OUTSOURCED by congress! Hey why not slash the income of Senator Bunning by 75% to see what us Americans on Earth are feeling. Mabey we should slash their medical benefits that are being paid off the backs of Americans! Mabey then they will understand the severity of what REAL AMERICA is feeling.